07 - HR aspects of PM.

 0    12 flashcards    michallekawa
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HRM definition.
bắt đầu học
The strategic and coherent approach to the management of the most valued asset: the people working there who individually and collectively contribute to the achievement of its objectives for sustainable competitive advantage.
'management of the most valued asset'
HRM may include...
HARD
bắt đầu học
hiring, | appraisal development, | reward system | development of employees.
Strategic significance of employees.
bắt đầu học
The creation and fulfilment of the strategy relies on the skills, knowledge and creativity of the people.
Today, employees are seen less an an expensive necessity but as a strategic resource that might provide the organisation with competitive advantage.
Operational significance of employees.
bắt đầu học
Successful completion of a task relies on having employees with appropriate skills and abilities to carry out their work.
Aims of reward system:
#
bắt đầu học
Risk attitude aligning*. | Employing and retention. | Legal obligations. | Awarding for performance. | Control salary costs. | Justice and consistency. | Objectives of organisation achieving. | Motivation.
RELACJOM systemu wynagrodzeń
*Employees attitude aligned with that of the organisation.
Methods of reward:
BP BP E
bắt đầu học
Basic Pay. | Performance related work (PRP)*. | Benefits in kind. | Pension. | Executive share option scheme.
PIG KPC
* Piecework. | Individual PRP. | Group PRP. | Knowledge contingent pay. | Profit related pay. | Commission.
Benefits of linking reward scheme to performance:
#
bắt đầu học
Motivation. | Interminable improvement focus. | Clearness of what creates organisational success. | Attracting staff.
MICA
Problems of linking reward scheme to performance:
DUCATS
bắt đầu học
Dysfunctional behaviour. | Unmotivated*. | Cost. | Achievement prioritising. | Targets setting. | Stress source.
DUCATS
*If target outside of employee control, difficult to achieve or rewards are insufficient or inappropriate.
Dysfunctional behaviours of PM system:
SS GOT MMM
bắt đầu học
Sub-optimisation.| Short-termism.| Gaming.| Ossification.| Tunnel vision.| Misrepresentation. | Misinterpretation.| Measure fixation.
Ossification = lack of flexibility. | Sub-optimisation = nieoptymalność.
Measure fixation = E.g. measuring behaviour or results that are not important
Non-accounting management style:
by Hopwood
bắt đầu học
Non-financial measures, such as customer satisfaction.
Budget constrained management style by Hopwood:
2cz
bắt đầu học
Short-term financial performance is measured | using, say, ROCE.
Profit-conscious management style by Hopwood:
2cz
bắt đầu học
Measures of long-term profitability, | such as NPV.

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